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Markets Rise on Earning Optimism, Latest Result Express


Markets closed higher since the fourth regular sessions, on Wednesday, with index hit volatility during the day. The Sensex, however, closed up 93 points at 38,599, while the Nifty added 43 points higher at 11,471-level.

Bharat Petroleum Corp, Bajaj finance, Zee Ent, Grasim and Oil&Natural Gas Corp (ONGC) emerged on Nifty chart, while Hero Motors, Vedanta, Hindalco, Asian Paints and NTPL slipped, among falling stocks.

IT, Media and Realty were the out-performers of sectoral gauges today. Conversely, Banking, Automobile and Metal indices, ended went downwards.

Almost all components in the Nifty IT index surged with the index rising over 1 percent, led by gains in Tata Elxsi, MindTree and Wipro.

Wipro rose 2.15% to Rs.248.90 per share after the IT major yesterday reported stellar Q2 earnings.

The other IT major, MindTree today reported an exciting 45.6 percent Q-o-Q jump in its Q2FY20, earning with consolidated profit at Rs.135-cr. In effect, the stock closed at 2.50 pc higher, quoting share price at Rs743.50 per share today.  Get  expert tips on stocks

Shares of Multi Commodity Exchange of India Ltd (MCX) closed marginally higher at Rs.1,021.45 per share on the NSE, up by Rs.5.80 higher from its previous closing, after the company posted a net profit of Rs.71.75-Cr for Q2FY19-20 as against Rs.43.70-Cr in Q2FY18-19. For Free stock tips  visit our website.

About a dozen companies have set to report their latest quarter earning results on 17-October, wherein the names include Cyient, Zee Entertainment, L&T InfoTech an DHFL and their stock action will be watched out with investors spirit, on Thursday.